Zacks: Brokerages Expect DURECT Corporation (DRRX) Will Post Earnings of -$0.05 Per Share
Wall Street brokerages expect DURECT Corporation (NASDAQ:DRRX) to post earnings of ($0.05) per share for the current quarter, Zacks reports. Three analysts have issued estimates for DURECT Corporation’s earnings. The highest EPS estimate is ($0.04) and the lowest is ($0.06). DURECT Corporation reported earnings per share of ($0.06) in the same quarter last year, which indicates a positive year over year growth rate of 16.7%. The business is scheduled to announce its next earnings results on Monday, October 30th.
On average, analysts expect that DURECT Corporation will report full-year earnings of ($0.20) per share for the current fiscal year, with EPS estimates ranging from ($0.24) to ($0.15). For the next financial year, analysts forecast that the company will post earnings of ($0.12) per share, with EPS estimates ranging from ($0.13) to ($0.11). Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for DURECT Corporation.
DURECT Corporation (NASDAQ:DRRX) last announced its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.02). DURECT Corporation had a negative net margin of 221.01% and a negative return on equity of 629.35%. The business had revenue of $4.32 million for the quarter, compared to the consensus estimate of $5.17 million.
Several brokerages recently weighed in on DRRX. ValuEngine raised shares of DURECT Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Stifel Nicolaus raised shares of DURECT Corporation from a “hold” rating to a “buy” rating and boosted their target price for the company from $1.25 to $3.00 in a research note on Wednesday, July 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of DURECT Corporation in a research note on Sunday, June 25th.
Shares of DURECT Corporation (DRRX) traded up 1.49% during trading on Tuesday, hitting $2.04. 379,083 shares of the company’s stock were exchanged. DURECT Corporation has a one year low of $0.74 and a one year high of $2.17. The firm has a 50-day moving average price of $1.71 and a 200-day moving average price of $1.42. The stock’s market cap is $299.88 million.
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A number of hedge funds have recently made changes to their positions in DRRX. Ingalls & Snyder LLC raised its stake in DURECT Corporation by 213.1% in the 2nd quarter. Ingalls & Snyder LLC now owns 6,419,482 shares of the specialty pharmaceutical company’s stock valued at $10,014,000 after purchasing an additional 4,369,400 shares during the last quarter. Asymmetry Capital Management L.P. acquired a new position in DURECT Corporation in the 2nd quarter valued at about $1,636,000. Stonepine Capital Management LLC raised its stake in DURECT Corporation by 28.6% in the 1st quarter. Stonepine Capital Management LLC now owns 2,801,376 shares of the specialty pharmaceutical company’s stock valued at $2,941,000 after purchasing an additional 623,585 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in DURECT Corporation by 48.4% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 1,200,000 shares of the specialty pharmaceutical company’s stock valued at $1,872,000 after purchasing an additional 391,500 shares during the last quarter. Finally, Mangrove Partners acquired a new position in DURECT Corporation in the 2nd quarter valued at about $530,000. 45.82% of the stock is owned by hedge funds and other institutional investors.
DURECT Corporation Company Profile
Durect Corporation is a biopharmaceutical company with research and development programs. The Company’s products candidates include DUR-928, oral for metabolic/lipid disorders, and DUR-928, injectable for acute organ injuries. Its other product candidates include POSIMIR (controlled release injection of bupivacaine), REMOXY (oral controlled release oxycodone), ORADUR-ADHD, ELADUR (controlled release injection of bupivicane), Relday (risperidone), ORADUR-based opioid (hydromorphone) and SABER-based ophthalmic.
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